Commenting on the latest announcement from Welsh Government on business support funding, Ben Francis, FSB Wales Policy Chair, said:
“Many businesses in Wales will be relieved to hear that there will be additional funding from Welsh Government to reflect the huge challenges that remain for those that are required to close or unable to hold events at this time.
“However, we are disappointed to see that FSB’s questions on the need for a Restart Grant have still been left unanswered. Businesses that have been closed or severely restricted for an extended period of time need support to meet the steepest costs of reopening, and we continue to call on Welsh Government to deliver this for those firms that need it most.
“Furthermore, this funding announcement does not appear to take into account the businesses that are able to open but subject to significant challenges due to the impact of social distancing on their ability to operate at a profitable capacity. Hospitality, tourism and leisure are some of the hardest hit sectors in this regard and FSB has made the case on multiple occasions for there to be targeted support for these industries. Many businesses are reporting that their takings are severely down, and that this is impacting upon their ability to be sustainable.
“We hope that today’s announcement is one staging point in Welsh Government’s ongoing conversation about the support that our economy needs to get back on its feet, and that the Economy Minister will be receptive to FSB’s call for a Restart Grant and targeted sectoral support in the immediate future.
“For those businesses that are eligible for this top-up funding, it is vital that they apply for the latest round of emergency funding from Welsh Government by the 16th June, and we’d urge all firms that think they may be eligible to do so.”